Intermediate Accounting (16th Edition)

Published by Wiley
ISBN 10: 1118743202
ISBN 13: 978-1-11874-320-1

Chapter 3 - The Accounting Information System - Review and Practice - Questions - Page 128: 19

Answer

A worksheet is a permanent accounting record but is not required in the accounting cycle.

Work Step by Step

A worksheet is informal in nature and is used for sorting and accumulating information required for financial statements. Thus, it is optional.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.